With fracking producing so much oil in the United States, some analysts were speculating that this country might one day be able to turn its back on Mideast oil. Not so fast, according to a new study by former military leaders, presidential advisers, ambassadors and politicians.

Their report states that while the U.S. oil boom is impressive, it doesn't mean the end of oil imports or the need for U.S. involvement in the Mideast.

"Unfortunately, the fact that we are now drilling as much oil as we are, is not going to, in and of itself, keep America out of the vulnerable situation. ... ," said retired Navy Adm. Dennis Blair, co-chairman of the Commission on Energy and Geopolitics.

Studies like this also reinforce the value of Canadian tar sands oil that could be brought to Gulf Coast refineries by the Keystone XL pipeline. Every barrel it brings is one less that has to come from the Mideast.